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FOCUSS Idea Competition

The College of Business Administration at Alabama State University will host the 2017 FOCUSS Idea Competition. This competition is designed to stimulate constructive thought surrounding the concepts of innovation and discovery and is open to all current participating undergraduate students. This year's problem statement is presented below.

Problem Statement: Provide (product & marketing) solutions to help people obtain mainstream financial services, irrespective of previous experience, income, residence and current access to financial institutions.

​Please concentrate your response on the role of credit unions in the provision of your proposed products and marketing solutions. In your response, please include the following:
• Demonstration of your knowledge of the credit union movement;
• Demonstrate how credit unions provide a unique opportunity for people who are unbanked your under banked;
• Your best product(s) for helping the un-banked and under-banked population connect to mainstream financial services; AND
• Your marketing strategy to connect with new potential consumers (specifically, those that are un-banked and under banked).
 
Submission: ASU Students should submit their ideas ans solution at http://foc-uss.weebly.com/alasu.html

Live Regional Competition

During  the live competition  to be held on March 7, 2017 in the Life Sciences Auditorium, finalists  present their "idea" to an audience of peers, faculty, entrepreneurs,  and distinguished  guests from the sponsoring  institution.  Each finalist has a designated  amount of time (e.g. 10 minutes)  to present their Idea to a panel of judges who will then choose the winners.

During the competition, finalists will be given 10 minutes (8 minutes for their PowerPoint presentation and 2 minutes for questions anyone may have). Do not be afraid to be creative and make adjustments where you see fit.

Regional Competition Prizes

  • 1st - $1000 USD
  • 2nd - $750 USD
  • 3rd - $500 USD
  • 4th - $250 USD
  • 5th - $100 USD

National Competition Prizes

The 1st place winner of the regional competitions at their respective schools will qualify to compete as contestants in the FOCUSS National Idea Competition the followi ng month. Prizes will also be awarded based on the results of judging the presentation at the live national competition. The results of judging at the national competition will determine the rank of the top 6 ranked winners (from 1st to 6th place) and prizes will be awarded accordingly:

  • 1st - $5,000 USD and a potential internship or permanent employment opportunity with sponsoring corporate partner.
  • 2nd - $2,500 USD
  • 3rd - $1,500 USD
  • 4th - $1,500 USD
  • 5th - $250 USD
  • 6th - $100 USD
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